Buyers snap up first Greenway land release

Dec 17, 2013

More than forty families are on their way to creating their dream homes after snapping up the first house and land packages offered at Greenway – the newest residential community in Sydney’s North West.

The properties were released to buyers in late November, with 80 per cent of the 50 lots on offer sold in just two days. Priced from $491,800 to $683,990, the lots range in size from 330 square metres to 586 square metres.

The Chief Executive Officer of Legacy Property, Matthew Hyder, said they received significant interest in Greenway leading up to the launch.

“Buyers are attracted to the design of the community including its shopping centre, parks and facilities, as well as the access to public transport, roads and employment opportunities. We also know that a nearby retail centre with a Bunnings, IKEA and Costco currently under development is very appealing,” he said.

Around 20 per cent of the properties offered in the first land release were purchased by first home buyers.

“The Sydney property market is very competitive and it can be hard, especially for first home owners, to buy a property. Sydney’s North West is offering highly desirable properties at an affordable price. It’s a great opportunity to step onto the property ladder,” said Matthew.

Legacy Property chose blocks with designated home designs and builders for its first release in order to save buyers time and enable the exchange of contracts before Christmas. Legacy Property expects to release more house and land packages in early 2014.

With Sydney’s population set to boom in the coming years, the NSW Government has designated Sydney’s North West as one of two ‘Growth Centres’ that will provide housing and employment for hundreds of thousands of people. The other Growth Centre is in Sydney’s South West.

The North West Growth Centre, which is within the boundaries of Baulkham Hills, Blacktown and the Hawkesbury will contain around 70,000 new dwellings for 200,000 people. It will be supported by a major centre at Rouse Hill, the M7 and the new North West Rail Link.

The 16 ‘Precincts’ that make up the North West Growth Centre will be progressively released over the course of the next 30 years. Greenway is the first community in the Marsden Park Precinct, which will comprise approximately 10,300 homes.